// Pets at Home raises full-year profit guidance
// The retailer said group like-for-like sales grew in the “high teens” across stores and online during December
// The company also highlighted the “inherent resilience” of its pet care model
Pets at Home has raised its full-year profit guidance thanks to further “momentum” during the golden quarter.
The pets goods retailer said group like-for-like sales grew in the “high teens” across stores and online during December.
The company also highlighted the “inherent resilience” of its pet care model and the underlying pet care market in the 28-week period to October 8, 2020.
Pets at Home now expects to register an underlying pre-tax profit of at least £77 million for its fiscal year, which concludes at the end of March.
The news comes after the specialist pet chain decided to return £28.9 million in rates relief, having remained open during the national lockdowns.
Pets at Home said the safety measures it has taken in its stores mean it remains “in a strong position” going into 2021.
“Our robust balance sheet and liquidity position was strengthened further at the end of 2020 through £80 million in initial cash proceeds relating to the completion of the disposal of our Specialist Group,” Pets at Home said.